_1862._
Total _liability_ of all the banks in the United
States $1024 mills.
Increase of _capital_ in the preceding nine years 117 mills.
Increase of _liability_ in the same nine years 248 mills.
_1872._
Total _liability_ of national banks, including the
_State_ banks _only_, of the city of New York $1759 mills.
Increase of _liability_ in said ten years $717 mills.
Increase of _bank capital_ in said ten
years $78 mills (!)
Add legal-tender notes and fractional c. 400 mills.
-----------
Total $2159 mills.
"_Showing_
"Money means in the hands of the community in excess of that of
1862, _$1117_ mills. And this _$2,159,000,000_ is the _hub_ of the
wheel from which radiates the _individual_ debt of the community,
until it reaches the apple-woman at the corner.
"Perhaps the above may vary, more or less, _20 or 30 mills_.
"The banks now number, I believe, more than 2200.
In 1854 the number was 1208
" 1873 " " " 1945
_Nineteen years_ an increase of 738
In 1862 the number was 1492
" 1873 " " " 1946
_Eleven years_ an increase of 454
_New_ banks with an increase of capital only of _$78 mills_.
"In considering the position, the banks are recognized _as part
of the public_ in their representations of their stockholders,
and it is not intended to dissect out of their liabilities their
_individual_ status."